Struggling Olaplex Names Supergoop Head as Next CEO (Correct)

Olaplex Holdings Inc. announced new leadership as the hair-care company struggles to regain its footing amid a lawsuit and sinking share price.

Amanda Baldwin, chief executive officer of skin-care brand Supergoop, will succeed JuE Wong in early 2024. Olaplex Executive Chairman John Bilbrey will serve as interim CEO during the transition. Supergoop specializes in sunscreen and other products with sun protection.

Santa Barbara, California-based Olaplex faced a consumer lawsuit, dismissed in July, that alleged the company’s products caused hair loss and scalp injuries. The company has also been beset by slowing demand, increased competition and guidance cuts. ...